Why More People are Buying Townhomes
It’s no secret that the national housing market has prices skyrocketing as people are looking hopefully into the future. In fact, this blog recently detailed the surge happening in North Carolina. What does this increased competition mean for would-be buyers though, particularly those whose priorities and financial situations may have changed since 2020? For a lot of folks, it means that while they still want to own property, they have pivoted from the slightly more traditional path of detached homes to townhomes. Some don’t initially consider townhomes when they begin their real estate journey, but they are a fantastic option for the right buyers. We’ve detailed below why so many are going the way of the townhome.
Location
Townhomes are a perfect option for individuals who want to be close to a big city but minimize their commute. Since each unit takes up a significantly smaller amount of space than a traditionally zoned detached home, they can be closer to city centers, giving residents more time to get ready in the morning and a higher potential that public transit will be nearby should they wish to use it. In many cases, townhome residences are specifically planned to provide homeowners easy accessibility to shopping centers and other businesses that are necessary for everyday life.
Proximity gives residents the chance to live the city life with all its perks while retaining the extra space an apartment simply cannot offer. Incredible hospitals, recreation centers, restaurants and more are all traditionally associated with city life, but coming back to a townhome means private space to rest and recharge when a break is needed. While buyers may have to share a wall or two with neighbors, that is nothing compared to noisy upstairs tenants in a city-center apartment or an hour-long rush hour drive back to a single-family home in the suburbs. Townhomes offer the best of both worlds while keeping residents close to the action of their community.
Price
For those who dream of owning a home but don’t want to compromise location for price, buying a townhome is a fantastic option. Their multi-level feature allows buyers the space for a beautiful entertaining space or full home office if they wish without the additional cost a detached single-family home incurs.
Upkeep
Similarly to budgetary reasons, many prospective buyers are attracted to townhomes because they involve less upkeep than their detached counterparts. Not only do townhomes have a lower cost than single-family homes initially, but they have lower maintenance costs in the long-term. A relatively small monthly payment is paid to a Homeowners Association that handles tasks like yard maintenance and some repairs, giving buyers more free time and peace of mind.
Townhome owners can also take part in the “lock and leave” lifestyle that is becoming more and more attractive to homeowners. Lock and leave refers to the freedom of being able to literally lock up and leave the home for days or weeks without having to worry about safety or keeping up the exterior of the home. Having community maintenance provided through townhome living means that residents don’t have to worry about leaving for a trip and coming home to an overgrown mess. Lock and leave also means that owners can have the security that the community lifestyle creates safety from threats, meaning travel does not have to come at the cost of peace of mind.
Hopper Communities proudly offers beautiful townhomes in the most in-demand neighborhoods of its home cities. Whether your goal is to find the right neighborhood or just the right space, we are certain to have something for you.